Tariffs and quotas
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- Teacher, where did those pencils come from? Also, how did they get here if they are from out of country?
- is everything taxed the same or do certain items cost more to import?
- that is a great question Alex. these pencils come from China. they are on of our many imports. they get here many ways, and all are taxed by the government.
- these items are made to be taxed for the sole purpose of reducing pressure from similar companies or products around the world. they are overall there to reduce the trade deficit.
- Great follow up question Jake. things can cost different amounts based off what they are, but the president is allowed to change the price on it.
- also maybe the economy?
- it might be because it can be harmful to the consumer
- do you have any idea on how taffis can be bad?
- that's exactly right! good job guys!
- what is it call when there are restrictions on imports?
- how is it beneficial to us?
- this is because it lets in just the right about of imports and doesn't over due it. which, I guess, could also be a bad thing but good for the most part.
- that was going to be my next topic. it's called a quota. And a good thing.
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